Serbia Inflation August 2019

Serbia: Inflation weakens in August

September 12, 2019

According to the Statistical Office of the Republic of Serbia, consumer price growth was flat in month-on-month terms in August, following the 0.2% decline in July. Higher prices for recreation and culture, and alcoholic beverages and tobacco were offset by lower prices for clothing and footwear, and food and non-alcoholic beverages.

Inflation softened to 1.3% in August from 1.6% in July, returning to the lower limit of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Likewise, core inflation—which excludes the more volatile components energy, food, alcohol and tobacco—edged down to 1.2% from 1.5%, while annual average inflation softened to 2.1% from 2.2%.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.2% in 2019, which is down 0.2 percentage points from last month’s forecast, and to average 2.4% in 2020.

Author:Lindsey Ice, Economist

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